Crane Company had 201000 shares of common stock, 21000 shares of convertible preferred stock, and $607000 of 9% convertible bonds outstanding during 2021. The preferred stock is convertible into 40000 shares of common stock. During 2021, Crane paid dividends of $0.54 per share on the common stock and $1.80 per share on the preferred stock. Each $1,000 bond is convertible into 45 shares of common stock. The net income for 2021 was $359000 and the income tax rate was 35%. Diluted earnings per share for 2021 is (rounded to the nearest penny)

$1.56.

$1.40.

$1.47.

$1.36.